Blair William & Co. IL Buys Shares of 18,680 Lennar Corporation (LEN)
Blair William & Co. IL bought a new position in shares of Lennar Corporation (NYSE:LEN) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 18,680 shares of the construction company’s stock, valued at approximately $996,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. Washington Trust Bank increased its stake in shares of Lennar Corporation by 47.6% in the second quarter. Washington Trust Bank now owns 2,462 shares of the construction company’s stock worth $131,000 after buying an additional 794 shares in the last quarter. MUFG Americas Holdings Corp increased its stake in shares of Lennar Corporation by 8.9% in the first quarter. MUFG Americas Holdings Corp now owns 3,030 shares of the construction company’s stock worth $155,000 after buying an additional 248 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Lennar Corporation during the first quarter worth approximately $182,000. Fisher Asset Management LLC purchased a new stake in shares of Lennar Corporation during the first quarter worth approximately $206,000. Finally, Pacer Advisors Inc. increased its stake in shares of Lennar Corporation by 27.0% in the first quarter. Pacer Advisors Inc. now owns 4,038 shares of the construction company’s stock worth $207,000 after buying an additional 859 shares in the last quarter. 81.09% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Lennar Corporation (LEN) opened at 50.49 on Wednesday. Lennar Corporation has a 1-year low of $39.68 and a 1-year high of $55.75. The firm has a market capitalization of $11.84 billion, a PE ratio of 14.76 and a beta of 1.26. The stock has a 50 day moving average price of $53.24 and a 200 day moving average price of $51.51.
Lennar Corporation (NYSE:LEN) last posted its quarterly earnings data on Tuesday, June 20th. The construction company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.13. Lennar Corporation had a net margin of 6.78% and a return on equity of 12.57%. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the previous year, the firm posted $0.95 EPS. The firm’s revenue was up 18.8% compared to the same quarter last year. Equities research analysts anticipate that Lennar Corporation will post $3.82 earnings per share for the current fiscal year.
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LEN has been the subject of a number of research reports. Zacks Investment Research upgraded Lennar Corporation from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Tuesday, May 23rd. Mizuho initiated coverage on Lennar Corporation in a research report on Tuesday, May 16th. They issued a “buy” rating and a $59.00 price objective for the company. Bank of America Corporation reiterated a “buy” rating and issued a $63.00 price objective (up previously from $60.00) on shares of Lennar Corporation in a research report on Wednesday, June 21st. Argus reiterated a “buy” rating and issued a $60.00 price objective (up previously from $57.00) on shares of Lennar Corporation in a research report on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $62.00 price objective on shares of Lennar Corporation in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $56.41.
In other news, COO Jonathan M. Jaffe sold 20,000 shares of Lennar Corporation stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $53.17, for a total transaction of $1,063,400.00. Following the completion of the sale, the chief operating officer now directly owns 139,433 shares of the company’s stock, valued at approximately $7,413,652.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.18% of the company’s stock.
Lennar Corporation Company Profile
Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.
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